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Mary Kennedy's Blog from Las Vegas

"Helping YOU Find Your Way Home in the Las Vegas Valley"

By Mary Kennedy | Agent in 89135
  • How Does Your Home Measure Up in Value to Others in Your Neighborhood?

    Posted Under: Home Selling in Las Vegas, In My Neighborhood in Las Vegas, Property Q&A in Las Vegas  |  August 9, 2014 12:18 PM  |  177 views  |  2 comments

    In an attempt to compare homes, one of the
    common denominators has been price per square foot.  It seems like a fairly, straight forward method but there are differences in the way homes are measured.

    The first assumption that has to be made is that the comparable homes are similar in size, location, condition and amenities.  Obviously, a variance in any of these things affects the price per square foot which will not give you a fair comparison.

    The second critical area is that the square footage is correct.  The three most common sources for the square footage are from the builder or original plans, an appraisal or the tax assessor.  The problem is that none of sources are infallible and errors can always be made.

    Still another issue that causes confusion is what is included in measuring square footage.  It is commonly accepted to measure the outside of the dwelling but then, do you include porches and patios?  Do you give any value for the garage, storage or other areas that are not covered by air-conditioning?

    Then, there’s the subject of basements.  Many local areas don’t include anything below the grade in the square footage calculation but almost everyone agrees that the finish of the basement area could add significant value to the property.

    Accurate square footage matters because it is used to value homes that both buyers and sellers base their decisions upon.

    Let’s say that an appraiser measures a home with 2,800 square feet and values it at $275,000 making the price per square foot to be $98.21.  If the assessor reports there are 2,650 square feet in the dwelling and the owner believes based on the builder, there is 2,975 square feet, you can see the challenge.

    If the property sold for the $275,000, based on the assessor’s measurements, it sold for $103.77 per square foot and by the owner’s measurements, it sold for $92.44 per square foot. Depending on which price per square foot was used for a comparable, valuing another property with similar square footage could have a $30,000 difference.

    The solution to the dilemma is to let me dig a little deeper into where the numbers come from and not to take the square footage at “face value”.  It is important to recognize that there are differences in the way square footage is calculated.

    If you have more questions about "What Your Home is Worth in the Las Vegas Valley, feel FREE to contact me at anytime.

  • Download a Copy of my 100+ Page Las Vegas Relocation Guide.

    Posted Under: General Area in Las Vegas, Entertainment & Nightlife in Las Vegas, In My Neighborhood in Las Vegas  |  March 25, 2014 12:15 PM  |  607 views  |  No comments

    I’m not sure if you’ve had a chance to see these, but I wanted to reach out to you and invite you to come check out some of the great resources about Las Vegas available on my website.

    Click on any of the links below that interest you:

    You can also click here to Download a Copy of my 100+ Page of my Las Vegas Relocation Guide.


    Shoot me an Email if you have any questions, or feel free to call me at (702) 324-5390.

    Best regards,

    Mary Kennedy REALTOR®
    RE/MAX CENTRAL
    (702) 324-5390

  • Price Reduced! Motivated Seller at the Mesa South Summerlin, Las Vegas, NV.

    Posted Under: Home Buying in Las Vegas, Home Selling in Las Vegas, In My Neighborhood in Las Vegas  |  January 23, 2014 11:43 AM  |  812 views  |  4 comments

    Motivated Seller has Moved Out of the Country!
    Quick Escrow is not a problem!

    Priced below current comps! ASKING PRICE of $395,000



    Presenting 5779 Mesa Mountain Dr. Las Vegas, NV,89135

    This Single-Family Home located at 5779 Mesa Mountain Drive, Las Vegas NV is currently for sale and has been listed on Trulia for 146 days. The Seller just relocated to Canada and is VERY MOTIVATED to get this property SOLD!

    This home is listed by Mary Kennedy at RE/MAX Central in Las Vegas for $395,000 and was built in 2012.

    The Property Boasts 4 beds, 3 baths, and approximately 2,230 square feet. The price per square foot is $177.

    The property has a Mountain View Premium Lot sized of 6,098 sqft. No one will be able to build behind you. Check out this view!



    5779 Mesa Mountain Dr is located in Zip Code 89135, one of the most sought after zip code locations in the Las Vegas Valley.

    For more information, click here to contact me or call me directly at 702-324-5390.

    Regards,

    Mary Kennedy
    RE/MAX Central
    702-324-1334
    Lic# S.0061876
  • Don't Forget to Get Regular Check-ups

    Posted Under: Curb Appeal in Las Vegas, In My Neighborhood in Las Vegas, Home Ownership in Las Vegas  |  August 15, 2013 12:13 PM  |  913 views  |  No comments

    Following his heart surgery last week, after an issue was discovered during his annual physical, President George W. Bush encouraged everyone to get regular check-ups. 

    Another important checkup that should be done on a regular basis and can be just as beneficial for your finances is an annual homeowner advisory. Why would you treat your investment in your home with less care than you treat your car or even your HVAC system?

    Consider investigating the following:

    • Know the value of your home by calling me to obtain a list of comparable sales in your immediate area as well as what is currently on the market for sale.

    • Have you compared your assessed value for tax purposes to the fair market value in order to possibly reduce your property taxes?

    • Even if you’ve refinanced in the last two years, can you save money and recapture the cost of refinancing in the time you plan to remain in your home?

    • Have you considered reducing your mortgage debt with low-earning cash reserves that will not be needed in the near future?

    • Have you considered investing in rental homes in good neighborhoods to increase your yields and avoid the volatility of the stock market?

    • Recommendations of repairmen and other service providers from a trusted source who deals with them more frequently than you do.

    Our goal is to create a lifelong relationship to help you be better homeowners. We want to be your “go to” person whenever you have a real estate question. We want to help you not only when you buy and sell but all of the years in between.

    We want to provide good, consumer-based information about homeownership on a regular basis through email and social networking. If it benefits you by helping you be a better homeowner, hopefully, you’ll consider us your real estate professional for life.

    Anytime you or your friends need help, please call. Knowing where to get the answer is just as important as knowing the answer. If you’d like information on any of the items we suggested, please let us know.

 
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